Metropolitan Life Insurance Co. NY reduced its stake in Visa Inc (NYSE:V) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,011,210 shares of the credit-card processor’s stock after selling 37,462 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Visa were worth $78,895,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of V. Moreno Evelyn V purchased a new stake in Visa during the third quarter valued at about $210,000. Lombard Odier Transatlantic Limited Partnership increased its stake in Visa by 57.5% in the third quarter. Lombard Odier Transatlantic Limited Partnership now owns 1,260 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 460 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in Visa by 3.8% in the third quarter. Duncker Streett & Co. Inc. now owns 1,683 shares of the credit-card processor’s stock valued at $139,000 after buying an additional 62 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in Visa during the fourth quarter valued at about $160,000. Finally, Adirondack Trust Co. increased its stake in Visa by 20.3% in the third quarter. Adirondack Trust Co. now owns 2,160 shares of the credit-card processor’s stock valued at $178,000 after buying an additional 365 shares in the last quarter. 80.14% of the stock is owned by institutional investors.
Visa Inc (NYSE:V) opened at 91.15 on Friday. Visa Inc has a 52-week low of $73.25 and a 52-week high of $92.05. The firm’s 50-day moving average is $89.22 and its 200-day moving average is $83.76. The company has a market capitalization of $211.84 billion, a PE ratio of 35.33 and a beta of 1.00. Visa also was the target of unusually large options trading on Thursday. Stock investors bought 44,268 put options on the stock. This represents an increase of approximately 625% compared to the average daily volume of 6,107 put options.
Visa (NYSE:V) last issued its earnings results on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. Visa had a return on equity of 26.48% and a net margin of 38.30%. The business earned $4.48 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc will post $3.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Friday, May 19th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $0.66 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is currently 26.09%.
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A number of equities analysts have recently issued reports on the stock. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $85.82 price objective for the company in a research note on Thursday, February 2nd. Stifel Nicolaus decreased their price objective on shares of Visa from $105.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Sanford C. Bernstein reissued an “outperform” rating and set a $104.00 price objective on shares of Visa in a report on Saturday, March 11th. Morgan Stanley reissued an “overweight” rating on shares of Visa in a report on Wednesday, March 8th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $103.00 price objective on shares of Visa in a report on Tuesday, March 14th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $92.91.
In other news, EVP William M. Sheedy sold 125,372 shares of Visa stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $85.74, for a total transaction of $10,749,395.28. Following the completion of the sale, the executive vice president now owns 365,769 shares in the company, valued at approximately $31,361,034.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP James H. Hoffmeister sold 11,139 shares of Visa stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $85.95, for a total value of $957,397.05. Following the sale, the senior vice president now owns 6,390 shares of the company’s stock, valued at approximately $549,220.50. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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